Zai Lab Limited (NASDAQ:ZLAB) Shares Sold by Schroder Investment Management Group

Schroder Investment Management Group reduced its stake in Zai Lab Limited (NASDAQ:ZLAB) by 61.7% in the 4th quarter, Holdings Channel reports. The firm owned 91,504 shares of the company’s stock after selling 147,363 shares during the quarter. Schroder Investment Management Group’s holdings in Zai Lab were worth $2,422,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its position in shares of Zai Lab by 3.3% in the third quarter. The Manufacturers Life Insurance Company now owns 121,084 shares of the company’s stock worth $2,923,000 after buying an additional 3,860 shares during the period. Point72 Asset Management L.P. purchased a new position in Zai Lab in the 3rd quarter worth approximately $325,000. Wellington Management Group LLP grew its position in Zai Lab by 18.4% in the third quarter. Wellington Management Group LLP now owns 8,436,606 shares of the company’s stock valued at $203,660,000 after acquiring an additional 1,312,115 shares in the last quarter. XTX Topco Ltd grew its position in Zai Lab by 8.0% in the third quarter. XTX Topco Ltd now owns 31,618 shares of the company’s stock valued at $763,000 after acquiring an additional 2,335 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Zai Lab during the third quarter valued at approximately $225,000. 41.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Zai Lab

In other news, insider Rafael Amado sold 3,000 shares of Zai Lab stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $38.41, for a total value of $115,230.00. Following the completion of the transaction, the insider now owns 30,834 shares in the company, valued at approximately $1,184,333.94. This trade represents a 8.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ying Du sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $34.47, for a total value of $1,723,500.00. Following the sale, the chief executive officer now directly owns 494,117 shares in the company, valued at approximately $17,032,212.99. This represents a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 133,001 shares of company stock worth $4,495,143 over the last quarter. 13.88% of the stock is owned by corporate insiders.

Zai Lab Price Performance

ZLAB opened at $31.77 on Monday. Zai Lab Limited has a 12-month low of $13.48 and a 12-month high of $39.77. The stock has a market capitalization of $3.48 billion, a PE ratio of -11.47 and a beta of 1.07. The firm’s fifty day moving average price is $32.72 and its 200 day moving average price is $28.88.

Zai Lab (NASDAQ:ZLAB) last issued its earnings results on Thursday, February 27th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.19). Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. The company had revenue of $109.07 million during the quarter, compared to analyst estimates of $110.15 million. On average, equities research analysts forecast that Zai Lab Limited will post -2.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ZLAB. JPMorgan Chase & Co. upped their target price on shares of Zai Lab from $44.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, March 13th. Scotiabank started coverage on shares of Zai Lab in a research report on Friday, March 7th. They issued a “sector outperform” rating and a $55.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a research report on Thursday, March 27th. Finally, Bank of America reiterated a “neutral” rating and issued a $36.10 price target (up previously from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd.

Zai Lab Company Profile

Zai Lab Limited develops and commercializes therapies to treat oncology, autoimmune disorders, infectious diseases, and neuroscience. Its commercial products include Zejula, an orally administered poly polymerase 1/2 inhibitor; Optune, a cancer therapy that uses electric fields tuned to specific frequencies to kill tumor cells; NUZYRA for acute bacterial skin and skin structure infections, and community acquired bacterial pneumonia; Qinlock to treat gastrointestinal stromal tumors, and VYVGART, a human IgG1 antibody fragment for myesthenia gravis.